* “Over the past four decades, September has been the best time for gold in terms of its month-over-month price appreciation. You can see this on the chart below – in a typical year, the price of gold in September rises 2.5% above its August price. The gold price has risen in 16 of the [...]
Over the past couple of months, gold and silver have been uneventful. In this report I have posted weekly charts to show the larger trend of gold and silver. Also I have provided small charts of the US and Canadian gold stock funds GDX and XGD. Because this report has weekly charts, which are a [...]
GLD Gold Trading Fund – Weekly Chart As you can see on this weekly chart gold has been consolidating for the past 5 months. This bullish pennant pattern is hinting that prices will breakout to the up side in the coming weeks. If for some reason we see the USD rally then I expect to [...]
October gold closed slightly higher on Wednesday as it extends this month’s trading range. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above 972.70 or below 906.40 are needed to confirm a trading [...]
“Gold’s ‘breaking out’ to a higher level as imminent. We will see the market move through the bull market highs of $1,040 very, very quickly,” Chris Locke, managing director at Oystertrade.com Management, told CNBC Wednesday. Other analysts have said the precious metal could shine again as inflation fears resurface. * “Gold’s broader appeal certainly stems [...]
October gold closed higher on Tuesday but remains below the 10-day moving average crossing at 945.10 as it extends this month’s trading range. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above [...]
October gold closed lower on Monday and below the 10-day moving average crossing at 945.40 as it extends this month’s trading range. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above 972.70 [...]
Gold will surge to next leg to $1,300/oz.: “The price of gold year-over-year was 2% lower. Demand was up 38%. The price of gold, in relation to the increased demand, should be at $1,273/oz., and I suspect it will get there. I like to keep between 10% and 15% in physical gold,” said Victor Gonçalves, [...]
Precious metals like gold and silver appear to be forming a bullish pennant formation, which generally leads to higher prices. Currently the US dollar is hovering around a support level, which is the 76- 79 range. Only time will tell if the US$ breaks down sending gold to new highs in the coming months. Below [...]
October gold was higher overnight as it extends the rebound off Monday’s low. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. Closes above last Thursday’s high crossing at 962.00 are needed to confirm that a short-term low has been posted. If October renews Monday’s decline, the [...]